pact on Education, explained the size or depth of corporatization and the profits earned by the corporate companies from the academic world in America.
One of the major consequences of the globalization of education has been commodification and the corporatization of institutions of higher learning. It is said that the for-profit education market in the United States is worth more than $500 billion in revenue for the involved corporates. More than one thousand state schools have been handed over to corporations to be run as businesses (Tandon)
Before the entry of globalization, education was considered as a sacred act because of the immense benefits it provides to a person in his life. Educators or teachers were respected highly in the society because of the services they were giving to the society for making better future generation. However, the whole concept of education has been changed a lot over the last few decades, especially after the introduction of globalization. Today, like most of the other segments of human life, commercialization has entered the educational sector also. All the schools and colleges are currently focusing more on maximizing their profits rather than providing quality education to the students. Corporatization is not a myth, but a fact at present in educational sector.
Former Harvard University President Derek Bok and many others defined corporatization of higher education as a process in which “todays educational institutions are busily striving to profit from teaching, research and all the other activities on campus—offering corporations the right to endow professorships, sponsor courses, bring the universitys scientific discoveries to market, even advertise in campus bathrooms”(Clay). Corporatization is the process of introduction of management structure in an institution. It is a kind of privatization. Corporatization in higher education means giving permission to private business people to exploit the business ...Show more